Curiosity gripped the XRP community as whales moved over 1.6 billion XRP across two major exchanges, Bithumb and Bybit, in a few hours.
Whale Alert reported that whales moved $814 million worth of XRP in a few hours, sparking market curiosity. The Tuesday transactions involved five distinct transfers, where whales deposited and withdrew large sums of XRP from exchanges.
Transaction Details
On-chain data from XRPL explorer Bithomp shows the first transaction happened at 13:53 (UTC) between South Korean-based crypto exchange Bithumb and an unknown wallet. The exchange transferred 580,092,812 XRP ($297 million) to the receiving address “rPyCQm.”
While questions around the origin of the transaction prevailed, another massive withdrawal happened. Notably, in this transfer, a second Bithumb-tied wallet, “mArodsZ,” moved 199,999,993 XRP to the same receiving address from the previous transaction.
Notably, the second withdrawal happened by 14:00 (UTC), seven minutes from the first transaction. Also, the transfer was worth $101 million at the time, at an average price of $0.506 per XRP.
Two minutes later, the same address received 200,000,043 XRP from another Bithumb-affiliated wallet. Address “rJyEK6” sent $101.3 million worth of XRP to the receiving wallet “rPyCQm,” marking the third withdrawal to the address.
Meanwhile, the newly created wallet didn’t stop its withdrawal, as Whale Alert shows it received its largest XRP on the day by 14:06 (UTC). Another Bithumb-related address, “rZcBQa,” sent a staggering 600,000,096 XRP ($304 million) to the wallet address.
At the time of writing, the “rPyCQm” address still holds all it has received from Bithumb. The wallet currently possesses 1.586 billion XRP worth $859 million.
Another Whale Moves 20M XRP to Bybit
Whale Alert also shows that another whale moved 20,000,000 XRP to Bybit an hour later. Data shows that the sending address “raQxZL” moved $10.2 million worth of XRP to a Bybit-tagged address “rMvCas” at 15.06 (UTC).
Notably, the sending address has been continuously moving XRP to Bybit recently. Bithomp data shows that the address transferred 10 million XRP to the exchange on November 4 and a previous 10 million XRP on November 1.
At the time of writing, the sending address still holds 386 million XRP, valued at $200 million. At the time of writing, XRP trades at $0.5374, up 5.44% in the past 24 hours.
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